HariS
Level 3
01-25-2025
07:35 AM
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You are right, In page 20 of the Virginia Form 502 , under general instructions, it clearly states "quote begins" Schedule VK-1 does not replace federal
Schedule K-1; it is a supplement to the federal schedule for
those state tax issues that require additional information. The
PTE will prepare a Schedule VK-1 and SVK-1 (if applicable)
for each owner; a copy should be given to each owner,
and a copy should be included with the entity’s Form 502" quote ends
I think that settles it. do not know why in that other forum this came up. How this all started was when VK-1 was available only in draft mode on pro-series until yesterday and I went looking for help online. I should first go to the official source..
Thanks again to all those weighed in.